Infrastructure

Hsu Wen Peng, Graeme Newell

    Research output: Chapter in Book / Conference PaperChapter

    Abstract

    Considerable yield compression has occurred in many international bond and fixed-asset markets in recent years, resulting in large capital flows into property. With the increased level of investment capital available, pension funds and institutional investors have considered a range of alternative investments including infrastructure to enhance the performance and provide diversification benefits in their portfolios. Infrastructure involves the physical structures and networks that provide the essential services for a community’s economic and social needs (RREEF 2005; McCarthy 2006). Infrastructure is fundamental to a country’s economy. Effective infrastructure is essential for economic growth and competitiveness. The size and quality of infrastructure is highly correlated with the size of a country’s economy (Hobbs 2007; Newell and Peng 2008a, b). In a Chinese study, infrastructure quality highly correlates (r=0.92) with global competitiveness (Newell, Chau, and Wong 2009).
    Original languageEnglish
    Title of host publicationPrivate Real Estate Markets and Investments
    EditorsH. Kent Baker, Peter Chinloy
    Place of PublicationU.K.
    PublisherOxford University Press
    Pages173-193
    Number of pages21
    ISBN (Print)9780199388752
    Publication statusPublished - 2014

    Keywords

    • infrastructure (economics)

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